Those other things: beds/baths, sq ft, age, etc. all matter much more.  

If I can't get the Refinance lined up I don't purchase the property.Obviously there are other steps mixed in some of these.Hopefully your next one will go better.

which I have noticed primarily involves something along the lines of "fear of the unknowns" or basically just to "jump in with both feet and quit making excuses".

House is 4 beds 3.5 bath, 2,800 sqft on 1.38 acres.

A simple way to look at student housing is "By the Bed".

I'm burdened with student loan debt too and I have ownership in a 36 unit/144 bed student housing deal...

Line of credit?

While I have lending lined up with a 5 year balloon, 20 year amortization and I'm ok with that, does anyone know of any lenders specific to Illinois that have longer term fixed rates for a cash out refinance assuming the proper appraisal and LTV?

I guess part of the reason why I decided to pursue architecture is that my father worked in construction for many years and this line of work was something I felt familiar with.

The appraiser is only in your house for about 15 minutes to take a few photos and verify the property information (beds/baths/style, etc).